Is it just me or did that email sent out by RL today sound a lot like a resignation if you read between the lines?
8 replies (most recent on top)
If he was doing a good job - they wouldn't have had to have the asset sales. He and his team have presided over the worst 5 year run in the history of the company. They made the worst decision in the history of Integrated Majors (to become an Independent E&P), and he likely had strategic input (or should have) into the purchase of Burlington (for which we took a COMPLETE, 100% write-down).
The reserves are down. New projects / work in the pipeline won't likely maintain current production. We were the WORST performer in the extended peer group last year in terms or Total Return to Shareholders. Ryan and the ELT are a bunch guys with Integrated Major backgrounds trying to figure out how to successfully play in a space they have never been in. And, we are not the lean mean fighting machine we need to be to compete in the unconventional space (we lost money in L48 at $100 per barrel, we lost at $80 a barrel, and we are still losing!).
Let me ask you a question, if you lay out a strategy, and one year into the strategy you are achieving it all 2 years ahead of plan, and your stock price is still dropping or staying flat - what you do you think that means? Maybe it means that people don't like your strategy?!!! They need to go - the whole lot of them.
No. There was no resignation message in his email. Briefly it mentions the 5-year anniversary, and a short synopsis of the time since the split. It goes on to remind of the Q1update tomorrow.
It ends by saying he still looks towards the future with optimism.
The lines are too close together. Unable to read between them
Wishful thinking.
they got ~18B for Canada sale...he's doing a pretty good job if you ask me
About time
Can anyone copy and paste the email to this thread?
what did it say?